President Trump’s Business Revolution Begins by “Slashing” Regulations
$DIA, $SPY, $QQQ, $VXX
The US business community, large and small, has suffered through 8 years of President Barack Hussein-Obama’s hobbling regulations, but now businesses are starting to see some relief from President Donald Trump.
“By every measure, the United States has been sinking into economic mediocrity over the last decade because of excessive regulation,” wrote Betsy McCaughey, the former Lt Governor of New York. “Government bureaucrats here are choking us with compliance costs. Small businesses get hit hardest, because they lack legal departments and market clout to maneuver around the rules.”
The Hussein-Obama Administration presided over the weakest economic recovery since the Great Depression as it layered a job-killing healthcare law on businesses and created a poisoning atmosphere of regulatory uncertainty.
A Harvard Business School study in Y 2016 blamed the dysfunctional federal government for making the US less competitive than other countries.
“When Barack Obama took office in 2009, the United States ranked 3rd among all nations as a place to do business. Since then it has plummeted to 8th, according to the World Bank (WB),” McCaughey says.
Eight years ago, it took 40 days to get a construction permit in the United States, today, it’s double that.”
Ms. McCaughey points to the surging US stock market as an indication that investors are optimistic that President Trump will follow through on his vows to cut taxes and regulation while boosting incentives to create jobs.
The Dow Jones Industrial Average has risen 14% since Donald Trump won the election with banks rising even more on the possibility of fewer financial regulations.
“Trump is following through: He’s appointing watchdogs for every federal agency to identify and cut any job-killing rules,” Ms. McCaughey says. “He has also ordered agencies to dump 2 regulations for every new one added. And he’s working with congressional Republicans to undo the reams of last-minute regulations Obama added in his final days in office.”
Wednesday, the US major stock market indexes finished at: DJIA -69.03 at 20855.73, NAS Comp +3.62 at 5837.56, S&P 500 -5.41 at 2362.96
Volume: Trade was heavy on the NYSE with 1.06-B/shares exchanged.
- NAS Comp +8.4% YTD
- S&P 500 +5.6% YTD
- DJIA +5.5% YTD
- Russell 2000 +0.7% YTD
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